In cash. The final settlement price is the NG final settlement price for the same contract month, so no natural gas is delivered.

From Sunday evening at 5:00 p.m. CT through Friday at 4:00 p.m. CT on CME Globex. Each weekday, trading stops at 4:00 p.m. CT for 60 minutes.

Micro Natural Gas Futures (MNG): 1,000 MMBtu Contract Specs and Margin

Q: Who is the MNG contract designed for?

Individual traders learning the natural gas market, accounts that want small position sizes, and hedgers with modest gas volumes. One MNG tick is worth $1.00.

Q: What does a single MNG tick equal in dollars?

$0.001 per MMBtu multiplied by 1,000 MMBtu, or $1.00 per contract.

Q: How much is a 10 cent move on MNG?

A $0.10 per MMBtu move is 100 ticks, which equals $100 per MNG contract.

Q: How many MNG contracts equal one NG contract?

Ten. Ten MNG contracts cover 10,000 MMBtu, the same quantity as one NG contract, and two and a half MNG contracts equal one QG contract.

Q: When does an MNG contract expire?

MNG stops trading one business day before the corresponding NG contract expires.

Q: How much money do I need for one MNG contract?

To day trade one MNG contract, Lincoln Park Financial lists $50 of margin; to carry it overnight, $571. You also need funds to absorb losses, which can exceed margin. See the margins page for current figures.

Q: Can I build a natural gas position gradually with MNG?

Yes. Because each contract is 1,000 MMBtu, traders can add or reduce exposure in small steps instead of moving 10,000 MMBtu at a time with NG. Losses can still be large relative to margin.

What Is a Micro Henry Hub Natural Gas (MNG) Futures Contract?

Micro Henry Hub Natural Gas futures (MNG) began trading on NYMEX in November 2023 and are the smallest natural gas futures contract CME Group lists. Each contract covers 1,000 MMBtu, one tenth of a standard Henry Hub Natural Gas (NG) contract, and settles in cash against the NG final settlement price, so there is no delivery.

With a tick value of $1.00, MNG suits traders who are new to natural gas, accounts that want to keep each position small, and hedgers whose gas usage is too small for an NG contract. It also lets traders add to or reduce a position in 1,000 MMBtu steps.

Micro Natural Gas (MNG) Contract Terms

MNG prices are quoted per MMBtu with a minimum move of $0.001, the same increment as NG, so one tick equals $1.00 and a $0.10 move equals $100 per contract. MNG trades nearly 23 hours a day on CME Globex, and each month stops trading one business day before the corresponding NG contract expires.

Product:

Micro Henry Hub Natural Gas

Futures Contract Symbol:

MNG

Exchange:

NYMEX (CME Group)

Contract Size:

1,000 MMBtu

Trading Hours:

CME Globex, Sunday 5:00 PM CT to Friday 4:00 PM CT; daily halt 4:00 PM to 5:00 PM CT

Minimum Price Fluctuation:

$0.001 per MMBtu = $1.00

Contract Months:

Monthly, for the current year plus the next five calendar years. A new year of monthly contracts is added after the December contract of the current year expires.

Settlement Method:

Cash settlement, no delivery

Exchange Fees:

$0.62/contract

Margin Requirements for Micro Natural Gas Futures

Holding Period:

Day Trading Margins

Overnight Margins

Margins:

$50

$571

The MNG day and overnight margins are listed with the rest of the energy complex on our margins page. When a position grows, traders often compare MNG with E-mini Natural Gas (QG) or the standard NG contract. Ready to start small in natural gas? Open an account or ask for a commission quote.

Source: CME

The above information is derived from sources believed to be accurate. It is provided without guarantees and is subject change without notice.

What Natural Gas Traders Watch

MNG follows the same Henry Hub market as NG, so its price reacts to the same information. Here is the routine many natural gas traders follow each week; it is a description of the market, not a prediction.

Daily weather models: changes in temperature outlooks for major population centers shift expected heating or cooling demand.
Thursday, 9:30 a.m. CT: the EIA reports the weekly change in natural gas storage, often the busiest moment of the week.
Friday rig count: the Baker Hughes count of active gas drilling rigs is followed as an indicator of future production.
LNG feedgas: daily estimates of gas flowing to export terminals show how much U.S. supply is leaving the country.
Production and pipeline notices: maintenance, freeze offs in winter and hurricane related shut ins can cut supply quickly.

At $1.00 per tick, a one cent move equals $10 on one MNG contract, but natural gas can move many cents in a day. Losses can exceed the margin on deposit.

Micro Natural Gas (MNG) Futures FAQs

What are Micro Henry Hub natural gas futures (MNG)?

MNG is a NYMEX futures contract for 1,000 MMBtu of natural gas, one tenth of a standard NG contract. It launched in November 2023 and settles in cash.

Who is the MNG contract designed for?

What does a single MNG tick equal in dollars?

How much is a 10 cent move on MNG?

How many MNG contracts equal one NG contract?

How is MNG settled?

When does an MNG contract expire?

How much money do I need for one MNG contract?

When does MNG trade?

Can I build a natural gas position gradually with MNG?

Does MNG have options?

Why do natural gas prices move so much?